PART I: Understanding your health coverage
Health insurance is a monthly expense that protects an irreplaceable asset your life. Understanding the language of insurance can help you utilize the benefits and anticipate out-of-pocket costs, alleviating future stress and confusion.
Premiums are the periodic payment to an insurance company or a health care plan for health or prescription drug coverage. The lower the premium cost, usually the more financial responsibility one will assume through out-of-pocket costs.